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Coinciding with Thanksgiving... Canadians are concerned about rising grocery prices.

Coinciding with Thanksgiving... Canadians are concerned about rising grocery prices.

By Omayma othmani

Published: October 7, 2023

Amid rising food prices this year, many holiday staples have become much more expensive.

After more than a year of rising food prices, families gathering this weekend for Thanksgiving dinner may feel the pinch after grocery shopping.

As reported by Statistics Canada last month, food prices bought from stores rose by 6.9 percent in August, down from an 8.5 percent increase in July, but still well above this month's core inflation rate of 4 percent.

Retail analyst Bruce Winder said that prices have not decreased, so you'll continue to see somewhat of a shock from the large price tags on items, prompting consumers to rethink their traditional Thanksgiving meal.

It's hard to put food on the Thanksgiving table...

Last year, the price of a kilogram of fresh turkey was about $6.59, or $42.84 for a bird weighing 6.5 kilograms, according to the Dalhousie University Agri-Food Analytics Lab in Halifax.

A survey of weekly flyers from major grocery chains leading up to Thanksgiving showed that some stores had seen price increases for the same product. At Metro, the cost for fresh turkey is $9.90 per kilogram, while at Sobeys, the price is $7.69.

However, this week's Loblaws flyer showed that the price for a kilogram of fresh turkey was $5.49.

Winder said that people won't completely cancel dinner, which is quite drastic, noting that many consumers are really hitting the wall with high gas and housing prices remaining.

But they will look for creative ways (to save). They might do a little more this year.

Other items typically found on the Thanksgiving list have also seen year-over-year price increases.

As of August, the retail price for a kilogram of potatoes rose by 6.8 percent, while butter saw a jump of 9.2 percent, according to Statistics Canada. Brown rice prices increased by about 6.3 percent from last year.

But there is reason for optimism, as economist Mike von Massow from the Ontario Agricultural College at the University of Guelph pointed out that while food prices are higher than last year, they are starting to move in the right direction.

He also mentioned that many foods that typically find their way onto the Thanksgiving dinner plate are now in season, so month-to-month price changes should be more favorable for consumers.

Von Massow stated that one reason we celebrate Thanksgiving at this time of year is to celebrate and give thanks for the harvest.

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